CSR Corporation Limited
China South Locomotive & Rolling Stock Corporation Limited (CSR) ( , ) is a state-owned enterprise supervised by the State Council of the People's Republic of China. It is the world's largest manufacturer of electric locomotives. History In 1986 the China National Railway Locomotive & Rolling Stock Industry Corporation (LORIC) was formed, comprising 35 production sites and 4 research centres. In 2002 LORIC was separated from the ministry of Railways and China South Locomotive and Rolling Stock Industry (Group) Corporation (CSRG) was formed. Its main competitor, the China North Locomotive and Rolling Stock Industry (Group) Corporation was formed in 2000. In 2002 the group manufactured the China Star high speed EMU at the Zhuzhou Electric Locomotive Works. In 2007 the China South Locomotive & Rolling Stock Corporation Limited (CSR) was formed. The company's H shares were first traded on the Hong-Kong stock market on 21 August 2008, the company's A shares began trading on the 18 August 2008. The shares also began trading on the Shanghai Stock Exchange in August; $1.57 billion was raised in the share offers. A 40% stake in the company was offered in total on the two exchanges. Between 2004 and 2007 CSR had ~50% of the internal Chinese market for locomotives and ~80% of the market for multiple units (by volume), as well as a ~50% share in locomotive and wagon refurbishment. In the same period overseas sales accounted for ~7-8% of revenue. In April 2010 the majority shareholder and state owned holding company China South Locomotive and Rolling Stock Industry (Group) Corporation was renamed to China South Locomotive Group. On 26 December 2011, CSR announced that it had successfully tested a super high speed train that was capable of traveling at 500 km/h. Company structure and subsidiaries At the time of the restructuring and share issue in 2008 the company had 20 subsidiaries: ;Manufacturing and maintenance *CSR Chengdu Locomotive & Rolling Stock Co., Ltd., refurbishment of locomotives and carriages, manufacture and repair of motors. *CSR Feb. 7th Rolling Stock Co., Ltd., manufacture and maintenance of freight wagons. *CSR Luoyang Locomotive Co., Ltd., refurbishment of locomotives. *CSR Meishan Rolling Stock Co., Ltd., manufacture of freight wagons, brakes and castings. *CSR Nanjing Puzhen Rolling Stock Co., Ltd., manufacture of carriages, multiple units and rapid transit vehicles. *CSR Qishuyan Locomotive Co., Ltd., manufacture and maintenance of diesel locomotives *CSR Shijiazhuang Rolling Stock Co., Ltd., maintenance of freight wagons, R&D of air-conditioning and refrigeration devices. **Shijiazhuang Guoxiang Transportation Equipment Co., Ltd., 60% owned subsidiary, joint enterprise with King Machinery (Taiwan) Co., Limited. *CSR Sifang Locomotive & Rolling Stock Co., Ltd., Manufacture of carriages and multiple units, and auxiliary products. EMU and carriage maintenance. Renamed CSR Qingdao Sifang Locomotive & Rolling Stock Co., Ltd, (CSR Sifang Co., Ltd.) on 29 December 2008. *CSR Sifang Rolling Stock Co., Ltd., maintenance and manufacture of carriages and multiple units. *CSR Yangtze Rolling Stock Co., Ltd., freight and refrigerated wagon manufacturing and maintenance, carriage and rapid transit vehicle maintenance, manufacture of axles, casting and other steel structures *CSR Zhuzhou Electric Locomotive Co., Ltd., R&D and manufacture of electric locomotives, multiple units and rapid transit vehicles, and electric motors, transformers and related products. *Zhuzhou CSR Times Electric Co., Ltd., development and sale of traction and auxiliary electrical power equipment and urban rail control system. *CSR Ziyang Locomotive Co., Ltd., R&D and manufacturing of diesel and electric locomotives, and diesel and gas powered engines and sub-components. *CSR Xiangfan Locomotive Co., Ltd., refurbishment of locomotives. ;Research *CSR Zhuzhou Electric Locomotive Research Institute Co., Ltd., R&D and manufacture of electric propulsion and control, suspension and noise reducing elements, polymer composites and insulators. *CSR Qishuyan Locomotive & Rolling Stock Technology Research Institute Co., Ltd., R&D of mechanical transmissions, brakes, shock absorbers and manufacturing techniques. ;Export and leasing *New Leap Transportation Equipment Investment & Leasing Co., Ltd., investment in, leasing, sale, and technical support of rail vehicles. (Renamed CSR Investment and Leasing on 2 December 2008) ;Other The company owned ~46% of the shares in "South Huiton", a freight wagon manufacturer, and palm fibre processing company. CSR (Hong Kong) Co. Ltd. based in Hong Kong was formed as 100% subsidiary in 2008. Joint ventures *Bombardier Sifang (Qingdao) Transportation Ltd., formed 1998, with CSR Sifang, 50% owned by Bombardier Inc., design and manufacture of single and double deck passenger carriages and EMUs *Qingdao Sifang Kawasaki Rolling Stock Technology Co., Ltd., formed 2005, 50% owned by Kawasaki Heavy Industries (39%) and ITOCHU Corporation (11%), R&D and technical support for railway vehicles and import and export thereof. See also *List of locomotives in China Notes References Sources *CSR Prospectus , 8 August 2008, CHINA SOUTH LOCOMOTIVE & ROLLING STOCK CORPORATION LIMITED (A joint stock limited company incorporated in the People’s Republic of China with limited liability), 8 August 2008, www.csrgc.com.cn External links *China South Locomotive and Rolling Stock Corporation Limited Category:Companies listed on the Shanghai Stock Exchange Category:Companies listed on the Hong Kong Stock Exchange Category:Manufacturing companies established in 2001 Category:CSR Corporation Limited Category:H shares Category:Warrants issued in Hong Kong Stock Exchange